Legal News

Financial services developments CRAs: FCA publishes multi-firm review on rating committees The Financial Conduct Authority ( FCA) has issued a multi-firm review assessing the effectiveness and governance of rating committees within UK-registered credit rating agencies ( CRAs). It highlights sound practices and areas requiring enhancement across committee governance, the make-up and duties of members, committee operations, and the robustness of internal controls that manage conflicts of interest and safeguard the independence of credit ratings. The review does not set new expectations but helps firms interpret existing ones. UK-registered CRAs should consider the findings, review their rating committee procedures and practices, and confirm that internal control frameworks are effective. In line with the FCA’s 2024 portfolio letter, the FCA expects CRAs to sustain rigorous, end-to-end ratings processes. The FCA intends to continue engaging with firms to evaluate how well rating committee internal controls perform. It will also...

R (on the application of Oceana UK) v Secretary of State for Energy Security and others [2025] EWHC 2984 ( Admin) What was the background? The dispute stemmed from a judicial review issued by Oceana UK against the Secretary of State for Energy Security and Climate Change, challenging three ‘appropriate assessments’ undertaken at the licensing phase of the 33rd Seaward Oil and Gas Licensing Round. Those assessments were intended to fulfil the Secretary of State’s obligations under regulation 5(1) of the Offshore Petroleum Activities ( Conservation of Habitats) Regulations 2001 (the 2001 Regulations). The 2001 regime gives offshore effect to the Habitats Directive in a manner closely akin to the Conservation of Habitats and Species Regulations 2017 that govern onshore planning decisions. Oceana contended that the licensing-stage assessments did not satisfy the precautionary requirement for ‘complete, precise and definitive’ conclusions, because...

Executor of Goudman- Peachey v HMRC [2025] UKFTT 1402 ( TC) The taxpayer and her late husband acquired a rural estate for around £8 million. Although the holding comprised nine distinct Land Registry titles, the acquisition proceeded as a single deal. The estate included a principal house, two ancillary dwellings, a swimming pool and equestrian amenities, plus 150 acres used in part for deer and other animal grazing. The vendors had operated the property as an equestrian facility, for sheep grazing and as a commercial deer park, with a portion of land let to a farmer for maize cultivation. Two days before the transaction, the taxpayer entered into an agreement to buy the 130 deer on the estate and for the existing manager to continue......

EU financial services developments ESMA to assess conflicts of interest in the distribution of financial instruments The European Securities and Markets Authority ( ESMA) has stated that in 2026 it plans to initiate a common supervisory action ( CSA) alongside the national competent authorities ( NCAs), targeting conflicts of interest within the distribution of financial instruments. This CSA will examine firms’ adherence to their Mi FID II duties to recognise, avert, and handle conflicts of interest when presenting investment products to retail clients......

Staffordshire County Council v Jake’s Grandmother and others [2025] EWHC 2230 ( Fam) What are the practical implications of this case? The practical implications arising from this case are: a reaffirmation that the court’s ability to invoke its inherent parens patriae jurisdiction is constrained by Ch A 1989, s 100(3)–(5). In this matter, Ch A 1989, s 100(4)(b) was triggered and the LA failed to show that J was at risk of harm if the court did not deploy its inherent jurisdiction confirmation of the court’s hesitancy to make an Order where another specialist body is already engaged ......

Perrin v Walsh [2025] EWHC 2536 ( KB) What are the practical implications of this case? Where there is proof of egregious behaviour by operatives, the court may decide to exclude evidence that would otherwise be admissible and probative. Defendants intending to rely on covert surveillance must take particular care to ensure that: all — meaning every last piece — of the surveillance material is disclosed any edited compilation still contains all footage that is relevant where the operative possesses relevant, unique knowledge, they provide commentary to supply proper context to what the footage shows witness evidence is served that accurately sets out the circumstances of all surveillance, explains how or why any gaps arose, and describes the systems used to secure fair capture and appropriate backup Care should be taken to avoid an expert referring to another expert’s earlier draft...

Costs of unsuccessful claimant ordered against defendants for failed allegation of fundamental dishonesty ( Hakmi v East & North Hertfordshire NHS Trust & another) Hakmi v East & North Hertfordshire NHS Trust & another [2025] EWHC 2597 ( KB) What are the practical implications of this case? Defendants and those acting for them should pause before pleading and persisting with a charge of fundamental dishonesty. This ruling underlines that the appropriate costs order turns not solely on the result of the litigation, but equally on the route taken to get there. Bolting on a weak allegation of fundamental dishonesty is to be shunned; otherwise defendants may find themselves liable for uplifted costs where the claimant prevails, and, exposed to adverse costs even where the claimant does not succeed. What was the background? The proceedings stem from an alleged omission to administer thrombolysis for a stroke, which the...

Antitrust Court of Justice issues judgment concerning national reference from the Netherlands confirming courts have jurisdiction over representative antitrust actions against apple regarding the App Store The Court of Justice has delivered its ruling in Case C‑34/24, Stitching Right to Consumer Justice and Stitching App Stores Claims, a Dutch reference seeking guidance on jurisdiction in a damages claim against Apple for alleged breaches of Articles 101 and 102 TFEU. The Court rejected Apple’s jurisdictional objections, confirming the Netherlands courts may hear the representative antitrust actions in full... Background Apple runs the i OS ecosystem, where the App Store—pre‑installed on all Apple devices since 2009—acts as the sole channel for developers to distribute apps to i Phone and i Pad users. An Apple ID is required, app availability differs by country, and Dutch‑configured Apple IDs are directed to the...

DNA plans DNA plans face a coordinated pushback from six Member States, which are pressing the Commission to drop its bid for a fully harmonised telecoms regime and to recast the overhaul as a directive, a joint text dated 26 November 2025 and seen by MLex shows. While a regulation has direct and uniform effect across all EU countries, a directive sets targets that countries must meet but allows them to decide how to implement the rules. The paper was submitted by: Austria France Germany Hungary Italy Slovenia They argue that Europe’s telecom markets remain marked by significant differences, requiring the legal flexibility that only a directive can deliver. A regulation, they warn, would bypass national implementation and impose uniform obligations with no room to reflect long-standing domestic frameworks, especially in sensitive areas such as lawful...

Antitrust Ofgem publishes decision to accept binding commitments from Scotia Gas Networks to resolve abuse of dominance concerns Ofgem has confirmed it will accept binding commitments offered by Scotia Gas Networks ( SGN) under section 31A of the Competition Act 1998, following concerns that SGN had exploited a dominant position within SGN Gas Distribution Network by declining to adopt higher-pressure (above 7 barg) third-party gas connections and by imposing non-uniform conditions on equivalent transactions, thereby excluding competitors. This published decision was intended to address abuse of dominance concerns identified by the regulator and resolve them......

Financial services developments FCA consults on ESG rating transparency and governance proposals The Financial Conduct Authority ( FCA) has released consultation paper CP25/34, ESG ratings: proposed approach to regulation, outlining measures intended to make environmental, social and governance ( ESG) ratings transparent, dependable and comparable. These plans stem from the government’s move to place ESG ratings within the FCA’s scope. Feedback is requested by 31 March 2026. FCA research indicates about half of users of ESG ratings have concerns about construction (55%) and the level of transparency (48%). To tackle this, the consultation concentrates on four themes: Greater transparency to support easier like-for-like assessment for both users of ratings and rated entities Stronger governance, systems and controls to secure clear decision-making, robust oversight and quality assurance Detecting and managing conflicts of interest Clear expectations around stakeholder engagement and complaints handling It also proposes how existing FCA...

HMRC v Michael Breen [2025] UKFTT 1415 ( TC) Ordinarily, at the FTT each party bears its own costs as a general rule, usually. There are, however, exceptions to that default position, for instance where a party acts 'unreasonably in bringing, defending or conducting proceedings' ( FTT Rules, SI 2009/273, rule 10(1)(b)). In this matter, the taxpayer, Mr Breen, failed to engage with the enquiry and, after lodging his appeal, with the FTT process. That extended to non-compliance with case management directions (the Directions) as well as two Unless Orders. Consequently, his appeal was automatically struck out in November 2020. His bid to have the proceedings reinstated succeeded in the FTT. But HMRC overturned that reinstatement at the Upper Tribunal ( UT) in 2023 (the UT Decision). The UT concluded there had been 'serious and significant' breaches with no...

Guidance on Public Sector Exit Payments: Use of Special Severance Payments ( Nov 2025) What does the guidance do The HMT ‘ Guidance on Public Sector Exit Payments: Use of Special Severance Payments’: outlines the factors employers must weigh before agreeing any special severance payment describes the approvals needed to authorise such payments, including the relevant delegated thresholds details the expectations on transparency and reporting adds to the special severance material in HMT’s Managing Public Money, Annex 4.13 For more information, see Practice Note: Dismissing a senior executive— Public sector employees. What are the practical implications of the guidance update Special severance payments are sums paid on ending employment that do not align with any existing contractual, statutory or other legal entitlement. The kinds of payments captured will depend on an employee’s particular circumstances. Where the employer contests, in whole or in part, an...

As we outlined in our recent piece, employees are increasingly relying on generative AI tools to compose lengthy, sometimes legalistic, grievances. Unsurprisingly, this technology has seeped into the Tribunal process too, with pleadings, witness statements and correspondence now often bearing a distinct AI aroma. Why does this matter and what must the parties do about it? Those familiar traces are increasingly apparent across submissions and further correspondence between parties. Why does AI involvement matter? It is widely accepted that generative AI is prone to overstatement and even outright invention (hallucinations, for those who favour the jargon). Though risky everywhere, its deployment in litigation creates specific worries: accuracy: Given AI’s tendency to hallucinate, has it produced incorrect material? credibility: Is a statement attributed to a witness, but drafted by AI, genuinely in that witness’s own language? If someone has relied heavily on AI to...

Brambles Administration Ltd and others v Harvey and others [2025] EWHC 2980 ( Ch) What are the practical implications of this case? This decision serves as a prompt on when it is justified to incur the cost of appealing a Pensions Ombudsman determination. An appeal lies only on a point of law under section 151(4) of the Pension Schemes Act 1993, and is not a vehicle to revisit the Ombudsman’s factual conclusions unless there has been an ‘ Improper Decision’: (i) a conclusion not open on the evidence or one that is perverse, (ii) a failure to consider relevant matters, or (iii) taking account of irrelevant matters. It also underscores the need to air all factual contentions fully before the Ombudsman, rather than attempting to advance them on appeal. The judgment further indicates the courts’ reluctance to allow trustees to rely on...

EU financial services developments SRB announces planned consultations for 2026 The Single Resolution Board ( SRB) has issued its 2026 schedule of industry consultations and requests. It sets out anticipated consultations, data collections and deliverables arising from EU legal acts, the SRB Expectations for Banks ( Ef B), and the SRB’s continued move towards bank-led testing and resolvability assessment. The table of specific requests outlines every element that could be sought from banks in 2026. Institutions have already been alerted through priority letters where particular items apply to them, meaning that, in most cases, each bank has been given a more streamlined list of obligations than the broader overview presented in the table. Source: SRB publishes the list of consultations and requests to the industry for 2026. EU news and guidance are available in the EU Law Practice Area. For more...

Antitrust Government publishes response to its consultation regarding the draft amendment to the Competition Act 1998 ( Public Transport Ticketing Schemes Block Exemption) Order 2021 The Department for Business and Trade ( DBT) has issued the government’s reply to its July 2025 consultation on the draft Competition Act 1998 ( Public Transport Ticketing Schemes Block Exemption) ( Amendment) Order 2025. These proposed changes reflect the CMA’s January 2025 advice to refresh and extend the 2021 Block Exemption, which is scheduled to lapse on 28 February 2026......

Mergers The Commission approved: New Princes S.p. A. to take sole control of Carrefour Italia S.p. A. ( M.12121), following a phase I investigation—see Midday Express for further details Global Payments Inc. to acquire joint control of Erste Card d.o.o. ......

EU financial services developments SRB announces planned consultations for 2026 The Single Resolution Board ( SRB) has issued its catalogue of consultations and industry requests for 2026. It details anticipated consultations, data calls and deliverables arising from EU legal instruments, the SRB Expectations for Banks ( Ef B), and the SRB’s continued pivot towards bank-led testing and resolvability reviews. A table of specific requests sets out every element that could potentially be sought from banks in 2026. Institutions have already been advised via their priority letters where any of these obligations apply to them individually. As a result, in most cases banks have received a requirements list that is slimmer and more targeted than the high-level overview in the table. Source: SRB publishes the list of consultations and requests to the industry for 2026. EU news and guidance are available in the EU Law...

On 27 November 2025, the government issued four linked publications explaining how the new local plan-making system will work under the LURA 2023... Create or update a local plan using the new system — a new collection acting as the central hub for the regime, assembling draft guidance, templates and links to supporting material 30-month local plan process: an overview — draft guidance setting out the mandatory 30-month timetable and the principal steps from notice through to adoption Rollout of the new local plan-making system – guidance — clarifies how and when the new system will commence, the transition from the legacy 2012 Regulations regime, and the backstop dates for plan preparation Plan-making regulations explainer — a detailed summary of what forthcoming secondary legislation will require procedurally, including new consultation, timetable and Gateway duties All four were published together to give local...